Anyone else have success with this strategy? I make 400-500 pips a month with the way I trade this.. I trade using the 15m time frame on eur/usd gbp/usd gbp/jpy.
to be sure, you're using, 7-9 cst time? Actually 9 is when the New-York session opens right?
Also do you let the trade run? or just 20 pips and you're done and how do you choose your stop to be 25 or 30, spread based? 30 doesn't seems to be a good R:R.
one more thing, how is gbp/jpy for this strategy, I have gone through the charts and doesn't seems to be a good choice with its big spread and crazy moves.
Hi guys. I have been using this strategy for the past month and really like it. boophaty could you explain the 60sma please. You manually enter the trade do you? rather than place an order 5pips below or 5pips above is that correct?
to be sure, you're using, 7-9 cst time? Actually 9 is when the New-York session opens right?
Also do you let the trade run? or just 20 pips and you're done and how do you choose your stop to be 25 or 30, spread based? 30 doesn't seems to be a good R:R.
one more thing, how is gbp/jpy for this strategy, I have gone through the charts and doesn't seems to be a good choice with its big spread and crazy moves.
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Hello spike that is correct. I also trade this on the london session..works the same...yes I let the trades run with a 20 pip trailing stop. I don't use a stop more of a mental stop. It all depends one the pair I trade if you have a feel for pa you can judge what the stop should be sometimes I set a mental of 15 pip .. I don't let trades go more than 30. R/R for me is good as I trade both sessions so if I lose on one I break even on the other.
Now for gbp/jpy I use a bigger stop with bigger TP. That is where PA comes into play.
Know what the market is doing. Spread for me is not a concern as im on an ecn broker. Rarely will I trade gbp/jpy if I see a good setup I take it. I look for the best possible setup out of the 3 pairs I trade .. hope that helps you out a little.
Hi guys. I have been using this strategy for the past month and really like it. boophaty could you explain the 60sma please. You manually enter the trade do you? rather than place an order 5pips below or 5pips above is that correct?
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Hello breffniman
I use the 60 sma as visual of where the trend is at. If the 60 sma is below the box we are are good for atleast 20 pips. Is it always correct no as you can see the pic of the loss I toolk same for the downside. No I don't place a 5pip below or up. I wait fore the close of the candle above or below the box.. you could follow that for more pips, but im more of a conservative trader. Hope that helps you out.... yes I manually place my trades .. I really don't like to place limits.. its just what's works best for you. I like to do it manually lol.
I use the 60 sma as visual of where the trend is at. If the 60 sma is below the box we are are good for atleast 20 pips. Is it always correct no as you can see the pic of the loss I toolk same for the upside. No I don't place a 5pip below or up. I wait fore the close of the candle above or below the box.. you could follow that for more pips, but im more of a conservative trader. Hope that helps you out.
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Cheers that explains it better. As i said im just learning but finding it an easy way to take some pips every day and start small.
If I could give advice to new traders it would be find a strategy and make it your own. Find what works best for you and go with it. Trading doesn't have to be hard or complicated. I took this strategy and made it my own what works for me might not work for others. I've been trading for eight years and im still learning.. if I can help anyone be successful i.m all for it.. starting out is not easy and ill help out anyone willing to learn!
I don't trade on nfp day so ill try and get some pics up on the london session even at that depending how the market is behaving might stay out.. many pips to all and have a great weekend.
Just a side note maybe ill start a new thread and share my bread and butter strategy that can be used all day long to pull small consistent profit... will see.. happy trading everyone
I have ever backtest the system like this ,some month the result is around 300 pips but some some month it can be -300 pips as well. I think it still profitable but the drawndown is huge too because risk/reward is about 1/1 so if you have 10 winning trades and have 8 losing trade then you result is only 2 winning trades.
Monthly performance may be like this +300,-250,-100,+50,-200,-300,+500 .
The questions is,
1. Is anyone trading result is same as my backtest result ?
2. Is this system still profitable now ? and
3. If it profitable ,how much percent of your account that will be use in one trade ?
I have ever backtest the system like this ,some month the result is around 300 pips but some some month it can be -300 pips as well. I think it still profitable but the drawndown is huge too because risk/reward is about 1/1 so if you have 10 winning trades and have 8 losing trade then you result is only 2 winning trades.
Monthly performance may be like this +300,-250,-100,+50,-200,-300,+500 .
The questions is,
1. Is anyone trading result is same as my backtest result ?
2. Is this system still profitable now ? and
3. If it profitable ,how...
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Hello dijsktra
I may have to start a new thread as I don't follow the rules outlined in this thread.. the way I trade I have yet to have a bad month. I trade the london and U.S. session. If I take a loss on london its breaks even for me on the us. Don't get me wrong I have taken losses back to back. It doesn't kill the week for me.. im not sure if the original is still profitable ... the way I trade im profitable average 800 pips or so for both sessions a month.. I shoot for 20 pips a day total of 40 for both sessions give or take. I risk no more than 2% a trade its hard to say because I use a mental SL of 15-30. Depends on the pair im trading and how the market is acting. I have taken this strategy and have made it to suit my style and personality .. have I made it better I don't know for as I have not traded it by what the rules say. I would love to hear from someone that does trade it by the rules just to see. Hope this help you out.
trailing stop seems a bit dangerous, you'll need a 40 pips move but on the long term I guess is OK since you may catch nice moves. I will use this strategy for Gpb/usd only. For London do you use the same time, 2 hours before opening?
The original rules work but you need to close 30% of the position when you hit a S/R line and so on, I think your best addition is that you wait for the candle to close.
trailing stop seems a bit dangerous, you'll need a 40 pips move but on the long term I guess is OK since you may catch nice moves. I will use this strategy for Gpb/usd only. For London do you use the same time, 2 hours before opening?
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Hello spike
How can a trailing stop be dangerous? Once I reach my 20 pips it trails from that point. So the worse I do is +20 if it goes beyond 20 I use support and resistance to finish the trade off.. I use the open of London .. hope this helps you out. Be cautious off trading today for it's nfp day.
today on Gpb/usd the 60 sma is in the box too, I may be wrong but I don't see how you lock 20 pips with a trailing stop if you're not 40+, for example lets say you are 20 pips profit the trade may to 21pips + and go back so you have just one pip locked.
today on Gpb/usd the 60 sma is in the box too, I may be wrong but I don't see how you lock 20 pips with a trailing stop if you're not 40+, for example lets say you are 20 pips profit the trade may to 21pips + and go back so you have just one pip locked.
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Ok I got ya. Lol the one I use takes me right up to the spot I want it.. so if im up +20 it takes my stop right to that point. Check out where the 60 is on your 4hour chart that will gi e you a clearer picture of which way the price is trending .. depending on the out come of nfp we will see a drop of 150 pips down to the 162.00 area.. as im not trading today and not infront of my charts it's hard to say. We have been down for the past 3 days.
if is sma in not in the box on 4 hours you can trade? Also have you tried it on asia session and do you enter in both sides, I mean is you have a loss you'll enter in the other side if the price closes above
One more question, I know it is a newbie one but just out curiosity, on average how much do you make of you account, like 10%, 5%, 3%
if is sma in not in the box on 4 hours you can trade? Also have you tried it on asia session and do you enter in both sides, I mean is you have a loss you'll enter in the other side if the price closes above
One more question, I know it is a newbie one but just out curiosity, on average how much do you make of you account, like 10%, 5%, 3%
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Hello spike
Looking at the 1h and 4h we are in a down trend.. Jumping back to the 15m we are below too. so overall we are in a down trend for the moment now if i was to trade this I would wait until it breaks out of the box.. so for now it could go either way.. depending on my other strategy I use yes I will enter both sides.. I will wait for market to readjust then enter.. as far as a percent Id say about 25-50% Hope that helps
With this strategy its hard to say as I use 3 different ones just using this one I'd say 15-16%
7am-9am Big Dog USD Breakout Strategy
